Rockefeller Capital Management L.P. Has $128.29 Million Stock Position in Blackstone Inc. $BX

Rockefeller Capital Management L.P. boosted its position in Blackstone Inc. (NYSE:BX) by 13.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 832,305 shares of the asset manager’s stock after acquiring an additional 98,193 shares during the period. Rockefeller Capital Management L.P. owned 0.11% of Blackstone worth $128,292,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BX. Vanguard Group Inc. grew its position in Blackstone by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager’s stock valued at $11,046,859,000 after purchasing an additional 840,258 shares during the period. Morgan Stanley lifted its stake in shares of Blackstone by 2.0% in the fourth quarter. Morgan Stanley now owns 32,862,165 shares of the asset manager’s stock valued at $5,065,374,000 after buying an additional 636,613 shares in the last quarter. State Street Corp increased its position in shares of Blackstone by 0.6% during the fourth quarter. State Street Corp now owns 31,542,009 shares of the asset manager’s stock worth $4,861,885,000 after acquiring an additional 179,213 shares in the last quarter. Norges Bank acquired a new stake in shares of Blackstone in the 4th quarter worth about $1,275,747,000. Finally, Northern Trust Corp boosted its stake in Blackstone by 4.7% during the 3rd quarter. Northern Trust Corp now owns 7,324,989 shares of the asset manager’s stock valued at $1,251,474,000 after purchasing an additional 329,379 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BX shares. Oppenheimer increased their price objective on Blackstone from $154.00 to $156.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. TD Cowen decreased their price target on Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a report on Monday, May 18th. Citizens Jmp cut their price objective on shares of Blackstone from $195.00 to $190.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Blackstone in a research note on Monday, June 8th. They issued a “buy” rating for the company. Finally, Jefferies Financial Group boosted their price target on shares of Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $150.86.

Insider Activity at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 30,014 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the completion of the transaction, the insider directly owned 899,669 shares of the company’s stock, valued at approximately $113,169,363.51. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the stock in a transaction on Friday, May 15th. The stock was purchased at an average price of $20.00 per share, for a total transaction of $189,735,900.00. Following the completion of the purchase, the insider owned 9,111,800 shares of the company’s stock, valued at approximately $182,236,000. This trade represents a -2,529.85% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 9,487,234 shares of company stock valued at $189,789,892 over the last quarter. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Performance

Shares of Blackstone stock opened at $123.78 on Friday. The firm has a market capitalization of $91.95 billion, a P/E ratio of 31.66, a price-to-earnings-growth ratio of 1.34 and a beta of 1.59. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. The business’s fifty day simple moving average is $121.11 and its 200 day simple moving average is $130.35. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.02. The firm had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The business’s revenue was up 10.0% compared to the same quarter last year. During the same period last year, the firm posted $1.11 EPS. As a group, analysts anticipate that Blackstone Inc. will post 5.9 EPS for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, May 4th. Blackstone’s payout ratio is presently 118.67%.

About Blackstone

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.